Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in FLEETCOR Technologies (NYSE:FLT) in connection to alleged violations of securities laws by FLT. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in FLEETCOR Technologies between February 5, 2017 and May 2, 2017.
The class action complaint specifically alleges that during the period in question, FLT might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company’s earnings and growth were the result of its practice of over-charging customers, distributing deceptive marketing documents and materials, and using predatory sales practices. When true facts emerged in reports by Capitol Forum and Citron Research, alleging, among other things, that FLEETCOR was a “predatory company by design whose core strategy is to methodically rip off its customers using business practices and fees that are designed to deceive,” investors in FLT suffered damages, according to the complaint.
According to the company’s website, FLEETCOR Technologies “is a leading independent global provider of specialized payment products and services including fleet cards, food cards, corporate lodging discount cards and other specialized payment services for businesses throughout the world.” The company’s description continues: “FLEETCOR serves over 500,000 commercial accounts with millions of cardholders across the United States, Canada, Mexico, Europe, Africa and Asia. FLEETCOR manages relationships with more than 800 partners, ranging in size from major oil companies to small petroleum marketers with a single fueling location. We provide services ranging from transaction processing to full program management. Our platforms, programs and infrastructure are both adaptable and scalable, allowing us to fulfill the requirements of a broad range of partners.”
A class action lawsuit has already been filed in connection with FLEETCOR Technologies. If you wish to serve as lead plaintiff in the FLT lawsuit, you must move the Court no later than August 14, 2017. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.